AdvisorNet Financial Inc Has $243,000 Stock Holdings in Deere & Company (NYSE:DE)

AdvisorNet Financial Inc cut its stake in Deere & Company (NYSE:DEGet Rating) by 19.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 811 shares of the industrial products company’s stock after selling 195 shares during the period. AdvisorNet Financial Inc’s holdings in Deere & Company were worth $243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Moody National Bank Trust Division bought a new position in shares of Deere & Company in the 2nd quarter valued at $857,000. Peoples Financial Services CORP. increased its stake in shares of Deere & Company by 42.4% in the 2nd quarter. Peoples Financial Services CORP. now owns 3,467 shares of the industrial products company’s stock valued at $1,038,000 after purchasing an additional 1,032 shares during the last quarter. GoalVest Advisory LLC increased its stake in shares of Deere & Company by 19,833.3% in the 2nd quarter. GoalVest Advisory LLC now owns 598 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 595 shares during the last quarter. Wiley BROS. Aintree Capital LLC increased its stake in shares of Deere & Company by 3.3% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 2,504 shares of the industrial products company’s stock valued at $745,000 after purchasing an additional 81 shares during the last quarter. Finally, Park National Corp OH increased its stake in shares of Deere & Company by 1.7% in the 2nd quarter. Park National Corp OH now owns 55,478 shares of the industrial products company’s stock valued at $16,614,000 after purchasing an additional 905 shares during the last quarter. 75.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Deere & Company news, CAO Marc A. Howze sold 4,019 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $373.22, for a total value of $1,499,971.18. Following the transaction, the chief accounting officer now owns 17,321 shares in the company, valued at $6,464,543.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Deere & Company Stock Down 2.0 %

Shares of NYSE:DE opened at $355.59 on Wednesday. The company has a market capitalization of $107.32 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.23 and a beta of 1.06. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.97 and a quick ratio of 1.68. The business’s 50-day moving average is $348.43 and its 200-day moving average is $363.09. Deere & Company has a 1 year low of $283.81 and a 1 year high of $446.76.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings data on Friday, August 19th. The industrial products company reported $6.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.45). The business had revenue of $13 billion during the quarter, compared to analyst estimates of $12.84 billion. Deere & Company had a net margin of 12.75% and a return on equity of 33.26%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.32 earnings per share. Equities research analysts predict that Deere & Company will post 22.94 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 8th. Shareholders of record on Friday, September 30th will be issued a $1.13 dividend. The ex-dividend date is Thursday, September 29th. This represents a $4.52 annualized dividend and a yield of 1.27%. Deere & Company’s payout ratio is currently 22.59%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup boosted their price objective on Deere & Company from $340.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Wells Fargo & Company boosted their price objective on Deere & Company from $410.00 to $423.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Jefferies Financial Group reduced their price objective on Deere & Company from $450.00 to $400.00 in a research report on Friday, July 15th. Oppenheimer boosted their price objective on Deere & Company from $365.00 to $415.00 in a research report on Monday, August 22nd. Finally, Bank of America boosted their price objective on Deere & Company from $335.00 to $381.00 in a research report on Sunday, August 21st. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $407.68.

About Deere & Company

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Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

Further Reading

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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